Picture of the week: Canada’s Federal Debt NOW over 600,000,000,000 $

Canada’s Federal Debt / TaxPayer.com

The federal government is adding
$58 million a day

to our debt.”

“Canada’s federal debt is growing at a rate of $1,024 per second. That’s $61,454 per minute and $3.7-million per hour. This level of borrowing is costing Canadians not just the principal, but interest each year. In fact, the federal government spends $31.5 billion per year just paying the annual interest on the debt.

Between 1997 and 2008 the federal government was running surplus budgets and paying down our debt. Every cent and more of that $105 billion paid-off during the decade has now been re-borrowed and spent. There’s no end in sight until 2015-16.”

“Support our campaign for balanced federal budgets and help us STOP this clock.” (1) – emphasis added

(1) http://taxpayer.com/issues/federal/fed-balance-budget?utm_source=DCW&utm_medium=widget&utm_campaign=DebtClock

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ↄ⃝   Copyleft CanadaNewsLibre 2012

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